The right time to Increase De Beers stake: Botswana’s mines minister

Botswana’s mines minister Bogolo Kenewendo says it’s “absolutely” the right time to discuss the government increasing its 15 per cent stake in De Beers.

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1 year ago

February 11, 2025

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She indicated that Anglo American, which owns the other 85 per cent of De Beers, was moving closer to an initial public offering (IPO) and that Botswana was pushing for a larger stake.

Anglo announced last week that it was likely to write down the value of De Beers from its current $7.6bn, as a result of persistent weak diamond demand, especially in China.

Botswana’s diamond, which accounts for over 70 per cent of the country’s export earnings, has been severely hit by the global slump in demand.

In the last nine months of 2024 Debswana – its 50/50 joint venture with De Beers it sold $1.53bn of rough, down 52 per cent on the same period in 2023.

41st World Diamond Congress To Tackle Geopolitics and Shifting Consumer Tides

Industry To Discuss Russian Sanctions, African Supply Dominance, and A Looming Generational Handover.

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7 hours ago

April 1, 2026

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The World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA) announced Friday that the 41st World Diamond Congress will convene in Singapore from July 12–15, 2026. The four-day summit arrives at a pivotal moment for the $100 billion jewelry market, which is currently wrestling with the rise of lab-grown alternatives and tightening transparency requirements.

Five Pillars of the 2026 Agenda

The Congress has structured its programming around five core challenges that are expected to define the industry’s trajectory through the end of the decade:

African Supply Leadership: A deep dive into the continent’s evolving role from a raw material source to a strategic power player.
The Asian Pivot: Executives will explore untapped potential in the ASEAN bloc, specifically targeting emerging middle-class wealth in Indonesia, Vietnam, and Malaysia.
Geopolitics and Sanctions: Critical sessions will address the ongoing trade-related restrictions that have reshaped global supply chains since 2022.
The Demand Deficit: Stakeholders will brainstorm strategies to revitalize the global desire for natural diamonds over synthetic competitors.
Generational Transition: A focus on integrating the “next gen” of leadership into the traditionally conservative diamond pipeline.

A Strategic Crossroads

The Congress will host an international mix of government representatives, manufacturers, and trade bodies. It noted that the ASEAN region represents a vital frontier for trade as traditional Western markets mature.

The timing of the event is strategic; it will run concurrently with the Singapore International Jewelry Expo (SIJE), bridging the gap between raw supply discussions and the high-end retail sector.

Market Outlook

For many in attendance, the primary concern remains the “natural vs. lab” debate. As Gen Z and Millennial buyers prioritize ethical sourcing and price transparency, the industry is under pressure to refine its narrative. The Congress is expected to serve as the primary forum for establishing a unified marketing front to bolster natural diamond demand.

Registration for the event remains open, with the industry’s top brass expected to finalize the roster of panel participants in the coming weeks.